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Securities (Tables)
 9 Months Ended
Sep. 30, 2023
Debt Securities [Abstract]  
Debt Securities, Available-for-Sale
The amortized cost, gross unrealized gains and losses, allowance for credit losses (“ACL”) and fair value of available for sale (“AFS”) securities as of the dates indicated were as follows:
As of September 30, 2023
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Allowance for Credit LossesFair
Value
(In thousands)
Debt securities:
Government-sponsored residential mortgage-backed securities$3,380,463 $— $(679,833)$— $2,700,630 
Government-sponsored commercial mortgage-backed securities1,343,187 — (254,067)— 1,089,120 
U.S. Agency bonds236,149 — (28,184)— 207,965 
U.S. Treasury securities99,494 — (6,275)— 93,219 
State and municipal bonds and obligations197,971 — (27,387)— 170,584 
$5,257,264 $— $(995,746)$— $4,261,518 
As of December 31, 2022
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Allowance for Credit LossesFair
Value
(In thousands)
Debt securities:
Government-sponsored residential mortgage-backed securities$4,855,763 $— $(743,855)$— $4,111,908 
Government-sponsored commercial mortgage-backed securities1,570,119 — (221,165)— 1,348,954 
U.S. Agency bonds1,100,891 — (148,409)— 952,482 
U.S. Treasury securities99,324 — (6,267)— 93,057 
State and municipal bonds and obligations198,039 9 (14,956)— 183,092 
Other debt securities1,299 — (14)— 1,285 
$7,825,435 $9 $(1,134,666)$— $6,690,778 
Schedule of Realized Gain (Loss)
The following table summarizes gross realized gains and losses from sales of AFS securities for the periods indicated:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In thousands)
Gross realized gains from sales of AFS securities$— $725 $— $1,770 
Gross realized losses from sales of AFS securities— (923)(333,170)(4,244)
Net (losses) gains from sales of AFS securities$— $(198)$(333,170)$(2,474)
Summary of Government-Sponsored Residential Mortgage-Backed Securities with Gross Unrealized Losses Information pertaining to AFS securities with gross unrealized losses as of September 30, 2023 and December 31, 2022, for which the Company did not recognize a provision for credit losses under the current expected credit loss methodology (“CECL”), aggregated by investment category and length of time that individual securities had been in a continuous loss position, is as follows:
As of September 30, 2023
Less than 12 Months12 Months or LongerTotal
# of
Holdings		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value
(Dollars in thousands)
Government-sponsored residential mortgage-backed securities324$— $— $679,833 $2,700,630 $679,833 $2,700,630 
Government-sponsored commercial mortgage-backed securities188— — 254,067 1,089,120 254,067 1,089,120 
U.S. Agency bonds23— — 28,184 207,965 28,184 207,965 
U.S. Treasury securities6104 4,854 6,171 88,365 6,275 93,219 
State and municipal bonds and obligations2425,216 48,268 22,171 122,316 27,387 170,584 
783$5,320 $53,122 $990,426 $4,208,396 $995,746 $4,261,518 
As of December 31, 2022
Less than 12 Months12 Months or LongerTotal
# of
Holdings		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value
(Dollars in thousands)
Government-sponsored residential mortgage-backed securities322$42,196 $435,690 $701,659 $3,676,218 $743,855 $4,111,908 
Government-sponsored commercial mortgage-backed securities19938,944 300,476 182,221 1,048,478 221,165 1,348,954 
U.S. Agency bonds37645 4,145 147,764 948,337 148,409 952,482 
U.S. Treasury securities51,311 48,451 4,956 44,606 6,267 93,057 
State and municipal bonds and obligations23714,942 179,614 14 225 14,956 179,839 
Other debt securities2— — 14 1,285 14 1,285 
802$98,038 $968,376 $1,036,628 $5,719,149 $1,134,666 $6,687,525 
Debt Securities, Held-to-Maturity
The amortized cost, gross unrealized gains and losses, allowance for credit losses and fair value of held to maturity (“HTM”) securities as of the dates indicated were as follows:
As of September 30, 2023
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Allowance for Credit LossesFair
Value
(In thousands)
Debt securities:
Government-sponsored residential mortgage-backed securities$260,271 $— $(40,723)$— $219,548 
Government-sponsored commercial mortgage-backed securities195,629 — (27,523)— 168,106 
$455,900 $— $(68,246)$— $387,654 
As of December 31, 2022
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Allowance for Credit LossesFair
Value
(In thousands)
Debt securities:
Government-sponsored residential mortgage-backed securities$276,493 $— $(30,150)$— $246,343 
Government-sponsored commercial mortgage-backed securities200,154 — (23,271)— 176,883 
$476,647 $— $(53,421)$— $423,226 
Summary of Fair Value of Available for Sale Securities by Contractual Maturities The scheduled contractual maturities of AFS and HTM securities as of the dates indicated were as follows:
As of September 30, 2023
Due in one year or lessDue after one year to five yearsDue after five to ten yearsDue after ten yearsTotal
Amortized CostFair ValueAmortized CostFair ValueAmortized CostFair ValueAmortized CostFair ValueAmortized CostFair Value
(In thousands)
AFS securities
Government-sponsored residential mortgage-backed securities$— $— $27,697 $26,351 $28,637 $26,316 $3,324,129 $2,647,963 $3,380,463 $2,700,630 
Government-sponsored commercial mortgage-backed securities— — 164,329 145,815 475,624 398,011 703,234 545,294 1,343,187 1,089,120 
U.S. Agency bonds— — 226,493 199,833 9,656 8,132 — — 236,149 207,965 
U.S. Treasury securities— — 99,494 93,219 — — — — 99,494 93,219 
State and municipal bonds and obligations210 210 29,120 26,998 42,656 38,408 125,985 104,968 197,971 170,584 
Total available for sale securities210 210 547,133 492,216 556,573 470,867 4,153,348 3,298,225 5,257,264 4,261,518 
HTM securities
Government-sponsored residential mortgage-backed securities— — — — — — 260,271 219,548 260,271 219,548 
Government-sponsored commercial mortgage-backed securities— — — — 195,629 168,106 — — 195,629 168,106 
Total held to maturity securities— — — — 195,629 168,106 260,271 219,548 455,900 387,654 
Total$210 $210 $547,133 $492,216 $752,202 $638,973 $4,413,619 $3,517,773 $5,713,164 $4,649,172 
As of December 31, 2022
Due in one year or lessDue after one year to five yearsDue after five to ten yearsDue after ten yearsTotal
Amortized CostFair ValueAmortized CostFair ValueAmortized CostFair ValueAmortized CostFair ValueAmortized CostFair Value
(In thousands)
AFS securities
Government-sponsored residential mortgage-backed securities$— $— $21,221 $20,284 $727,908 $648,132 $4,106,634 $3,443,492 $4,855,763 $4,111,908 
Government-sponsored commercial mortgage-backed securities— — 191,762 171,992 649,659 556,641 728,698 620,321 1,570,119 1,348,954 
U.S. Agency bonds— — 877,371 767,464 223,520 185,018 — — 1,100,891 952,482 
U.S. Treasury securities— — 99,324 93,057 — — — — 99,324 93,057 
State and municipal bonds and obligations213 209 22,100 21,283 42,554 40,970 133,172 120,630 198,039 183,092 
Other debt securities1,299 1,285 — — — — — — 1,299 1,285 
Total available for sale securities1,512 1,494 1,211,778 1,074,080 1,643,641 1,430,761 4,968,504 4,184,443 7,825,435 6,690,778 
HTM securities
Government-sponsored residential mortgage-backed securities— — — — — — 276,493 246,343 276,493 246,343 
Government-sponsored commercial mortgage-backed securities— — — — 200,154 176,883 0— — 200,154 176,883 
Total held to maturity securities— — — — 200,154 176,883 276,493 246,343 476,647 423,226 
Total$1,512 $1,494 $1,211,778 $1,074,080 $1,843,795 $1,607,644 $5,244,997 $4,430,786 $8,302,082 $7,114,004